COLUMBIA, S.C. (WCBD)- A judge has approved a second round of refunds for electric ratepayers of Dominion Energy South Carolina totaling $61 million as part of the settlement agreement over a failed nuclear plant.
The latest approval ends a years-long class-action lawsuit against the company over V.C. Summer, a nuclear power plant in Columbia that never came online despite Dominion Energy customers paying more than $2 billion for it.
Approximately 1.1 million members will be eligible to receive a portion of the settlement funds which are expected to go out later this year as either a bill credit or check. The payout amount will be the same as the first round of settlements.
A 2017 News 2 investigation revealed that the Public Service Commission approved nine rate hikes for SCE&G over the course of the project, collecting roughly $37 million each month from customers. Two of those rate hikes were approved after lawmakers said the utility companies knew the project could not be finished.
“The parties have worked cooperatively to reach an agreement to bring closure to this matter. Dominion Energy is pleased to have assisted in this timely and reasonable resolution in the best interest of our customers,” Dominion Energy South Carolina spokesperson Rhonda O’Banion said.
Dominion Energy acquired SCE&G’s parent company SCANA in January 2019.